I've been thinking about blogging for a while. Unfortunately, I couldn't come up with the topic I wanted to discuss. After finding the "Blogging Away Debt" page (which is great by the way!), I knew what my topic of choice would be... debt. I've got way too much of it and need a plan to get out of it! Being a bit OCD (self-diagnosed, of course), I thought that this would be a great way for me to come up with the grand rescue plan, actually write it all down and face the cold hard truth - that it's time for a change! (Why is it that the "Time to Change" song from the Brady Bunch just came in my head?)
Anyway, let me introduce myself :) My name is Steph. I debated using a fake name, to maintain my confidentiality and keep the mystery alive, but a) it's only my first name b) I'm an honest person at heart and c) I'd like to be open and keep this blog truthful to the core! So, more about me... I'm in my mid 30's, live in sunny California, recently got engaged (as in this past weekend), and have a good job in Management.
Okay, here's the juicy stuff... I am somewhere between (drum roll, please) $38-40K in credit card debt and after having to buy a new car this past weekend, add another $21,868.20. The car was a necessity, as the old one had over 302K miles on it and was not likely to last much longer, even after repairs. Sure, I could have tried to get something used or less expensive, however I have no savings and nothing for a down payment. With these options, I did what I thought was appropriate and went with the new car at .9% financing. I did lots of research beforehand and overall, felt that I got an okay deal on a car with a good reputation of quality. As far as the cc debt, I've put that range down because I have a few things waiting to post. I'd like to take my new statements as they come in and log those amounts down for better accuracy. So the final number is yet to be tallied!
I'm hoping this blog will help keep me honest and give motivation to others in a similar situation. Please feel free to ask questions and post your thoughts and feedback along the way. I know the situation I'm in and I'm not looking for guilt trips or lectures. I hope you'll join me on this journey and maybe start your own blog. Support is welcomed and appreciated as I buckle down and try to dig myself out of this mess!